Procter & Gamble Company (The) (NYSE:PG) Shares Sold by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. reduced its stake in Procter & Gamble by 13.2%, now owning 15,474 shares worth approximately $2.6 million.
• Procter & Gamble declared a quarterly dividend of $1.0568 per share, resulting in an annualized dividend yield of 2.8%.
• The company reported a 1.48 EPS for the recent quarter, exceeding estimates, with a year-over-year revenue increase of 1.7%.

Linscomb Wealth Inc. cut its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,474 shares of the company's stock after selling 2,346 shares during the period. Linscomb Wealth Inc.'s holdings in Procter & Gamble were worth $2,637,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Procter & Gamble by 51.5% during the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after buying an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Procter & Gamble by 493.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock valued at $57,294,000 after acquiring an additional 284,174 shares during the period. Sagespring Wealth Partners LLC acquired a new position in shares of Procter & Gamble during the 4th quarter valued at $7,721,000. Entruity Wealth LLC purchased a new stake in Procter & Gamble during the 4th quarter worth $352,000. Finally, Granite Investment Partners LLC increased its holdings in Procter & Gamble by 1.2% in the 4th quarter. Granite Investment Partners LLC now owns 12,764 shares of the company's stock valued at $2,140,000 after purchasing an additional 150 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 0.0%

NYSE:PG opened at $153.55 on Monday. The stock has a 50-day simple moving average of $158.26 and a 200 day simple moving average of $163.66. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The company has a market capitalization of $359.67 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 EPS. Sell-side analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is presently 64.98%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PG. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Evercore ISI restated an "in-line" rating and issued a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Piper Sandler increased their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Redburn Partners set a $161.00 target price on shares of Procter & Gamble in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.88.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.